The Punjab government is considering shutting down the Punjab Health Foundation (PHF) after 34 years.
As part of the review, the Finance Department has asked PHF to provide complete details of its finances, assets, liabilities, staff, and outstanding loans.
PHF has provided more than Rs. 2.5 billion in interest-free loans to over 2,100 doctors. Reports say the foundation has also managed its operational expenses without government funding.
Its bank account currently holds around Rs. 1.328 billion. The foundation also has a loan recovery rate of 98 percent, according to the reported figures.
Over the years, PHF has helped establish around 2,100 healthcare centres across Punjab. These facilities created about 10,000 jobs.
The foundation has also distributed more than Rs. 4.4 billion in stipends. It currently manages online systems for stipends and interest-free loans for healthcare professionals.
A Punjab Health Department spokesperson said the possible closure is being considered under the government’s austerity measures.
Officials are also reviewing plans to move PHF employees and funds to other institutions. However, authorities have not made a final decision yet.
According to the spokesperson, the government will take the final decision after consultation with the relevant officials.
Punjab Health Foundation was created under the Punjab Health Foundation Act, 1992. Its main role includes providing financial support to doctors and healthcare institutions to improve private healthcare services in the province.
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